Estate Planning Constants in a Disorderly Age

The times sure seem crazy – wars grind on, natural disasters sweep the land, madness abounds from top to bottom.

We could argue this in fact is ‘situation normal’ – the recent centennial of the First World War, if nothing else, suggests the dire is commonplace. In any case, today, clients are nervous.

If you’re an estate planner, how can you reassure clients – not by coddling their fears, but rather by providing sound, timeless advice? Our featured article sets out guidelines to keep us steadily on course, no matter how violently the earth shakes under our feet. Let’s take a calming look.

A very few things never change – some are even assured. Death is one of those rarities. An estate plan is necessary to meet this constant. While the individual must perish, there are family members to consider, some of whom still have plenty of living to do. Indeed, there is the family name itself, around which can be shaped a legacy that lasts for generations, if you plan correctly.

Despite provoking millennia of horselaughs, taxes cannot truly be called inevitable – it just makes sense to consider them thus. Estate planners can minimize the damage and keep up with the changes, which are sure to come.

Here’s an interesting principle: if children aren’t provided for equally in the estate, they’ll eventually come to blows. There are ways to manage this problem beyond the obvious, but it often takes a professional’s touch to negotiate the deal.

Divorce is also a commonplace. This can have devastating effects on a financial plan, if it is not immediately reviewed and brought into alignment with the new situation. And if you want conflict, look out for what happens if one or both halves of the original couple remarry – the second set of children will be born ready to do battle with the first. Some things just never change.